The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Wednesday, losing 755.40 points, a negative change of 0.65 percent, closing at 116,020.11 points as compared to 116,775.50 points on the last trading day.
A total of 481,813,460 shares were traded during the day as compared to 479,465,114 shares the previous trading day, whereas the price of shares stood at Rs38.536 billion against Rs30.449 billion on the last trading day.
As many as 451 companies transacted their shares in the stock market, 140 of them recorded gains and 260 sustained losses, whereas the share price of 51 companies remained unchanged.
The three top trading companies were Cnergyico PK with 35,607,758 shares at Rs 8.51 per share, B O Punjab Limited with 25,483,545 shares at Rs 11.11 per share and Fauji Foods limited with 25,268,499 shares at Rs 15.91 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 273.35 per share closing at Rs 22,967.97 whereas runner-up was PIA Holding Comapny LimitedB with Rs 148.85 rise in its share price to close at Rs 1,753.61.
Hoechst Pakistan Limited witnessed a maximum decrease of Rs 45.05 per share price, closing at Rs 3,194.95, whereas the runner-up Philip Morris (Pakistan) Limited with Rs 43.60 decline in its per share price to Rs 1,132.27.
Separately, Asian stocks swung Wednesday after Nvidia’s announcement of new US licensing rules on shipments of its new chip to China rattled investor confidence already shot by Donald Trump’s sweeping trade war.
After a relatively peaceful couple of days following last week’s tariff-fuelled ructions, investors were once again on the defensive as a standoff between the world’s top economic superpowers shows no signs of abating.
China did little to soothe worries by saying that US levies were putting pressure on its economy, which data showed expanded more than expected in the first quarter.
A decision by Hong Kong’s postal service to stop shipping US-bound goods in response to “bullying” levies added to the unease.
Chip behemoth Nvidia said Tuesday that US officials had told the firm it must obtain licences to ship its new H20 semiconductors to China because of concerns they may be used in supercomputers there, adding the rule would last indefinitely.
The move marks the latest salvo in an increasingly nasty row that has seen Washington and Beijing hit each other with eye-watering tariffs, with the technology sector and security at the heart of the issue.